$BTC - slow start but an explosive end?
When we broke the correction downtrend we retested the downtrending line twice
Usually this would only happen once, indicated low momentum
Once we claimed $34.5 it has been very cleanly upwards
Formed a bullish flat top triangle also, break of this using the measurement method would take us perfectly to the purple line which is the 2.618 fib retracement of the 2017 ATH to 2018 low
I would expect a pretty explosive move from this with resistance at previous ATH
HOWEVER
If we don't claim 38.5K I would fully expect a retest of 34.5K where will then decide are we going towards 45K or towards 26K. So don't get too comfy crypto trading view
Usually this would only happen once, indicated low momentum
Once we claimed $34.5 it has been very cleanly upwards
Formed a bullish flat top triangle also, break of this using the measurement method would take us perfectly to the purple line which is the 2.618 fib retracement of the 2017 ATH to 2018 low
I would expect a pretty explosive move from this with resistance at previous ATH
HOWEVER
If we don't claim 38.5K I would fully expect a retest of 34.5K where will then decide are we going towards 45K or towards 26K. So don't get too comfy crypto trading view
Comment:
Perfect backtest of the triangle, just gotta break that blue box and 45K should be on the way! Might be farewell to alts for a week or so though sadly